Lender Approval Matters
A short sale is different from an ordinary cash sale because the mortgage holder or servicer generally must approve accepting less than the full amount due.
Memphis Short Sale Property Buyers
Need to Sell a House With a Short Sale in Memphis?
A short sale generally means selling for less than the amount needed to fully satisfy the mortgage, with the lender or servicer agreeing to the transaction. We can review the property and proposed purchase while you work through required lender approval.
24/7 calls & textsSell as-isNo repairs requiredFlexible closing
GET MY CASH OFFER CALL / TEXT 901-341-4777Pre-Foreclosure Situations
Short sales are often considered when a homeowner is behind on payments or trying to avoid foreclosure and the property value does not cover the required payoff.
Cash Offer for Review
We can evaluate the property as-is and discuss a purchase offer that can be presented through the proper short-sale process if appropriate.
How a Memphis Short Sale Is Different
With a normal sale, the closing proceeds are sufficient to satisfy the mortgage and other required payoffs. In a short sale, the lender or mortgage servicer must evaluate whether it will accept less than the full balance required to release its lien.
Approval, required documents, valuation, timelines and any remaining balance can depend on the specific loan and servicer.
Important: We do not control lender approval and cannot promise that a short sale will be accepted. Ask the mortgage servicer and qualified legal/tax professionals about deficiency balances, taxes and other consequences specific to your situation.
When Sellers Search for a Short Sale Buyer
Mortgage balance is higher than expected sale proceeds
Behind on mortgage payments
Pre-foreclosure notices
Need to sell an as-is property quickly
Inherited property with an existing loan
Property needs repairs the owner cannot fund
Frequently Asked Questions
Does a cash buyer eliminate the need for lender approval?
No. If the transaction is truly a short sale, the mortgage holder or servicer generally must approve the short payoff regardless of how the buyer is funding the purchase.
Is a short sale the same as foreclosure?
No. A short sale is a sale of the property, while foreclosure is a process through which the lender enforces its rights after default.
Can a short sale close in five days?
Do not assume so. Lender or servicer approval can add significant time even when the buyer is ready to close.
Can I contact you before the lender approves a short sale?
Yes. We can review the property and discuss a potential purchase while you determine the lender or servicer requirements.
Related Memphis Seller Situations
Talk With a Memphis Property Buyer 24/7
Tell us about the property, mortgage, title, condition and your timeline. Some transactions can close in as little as 5 days when the property, title and closing requirements allow.
WE pay ALL closing fees at our local title attorney.
GET MY CASH OFFER CALL / TEXT 901-341-4777
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